No. 0274 authorizing sale, issuance, delivery of project notes in the aggregate principal amount of $270,000 and execution of Requisition Agreement No. 2 for Industrial Expansion Project IND R-56

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RESOLUTION NO. 274 RESOLUTION AUTHORIZING THE SALE, ISSUANCE AND DELIVERY OF PROJECT NOTES IN THE AGGREGATE AMOUNT OF $2700000.00 AND THE EXECUTION OF REQUISITION AGREEMENT NO. 2 FOR THE INDUSTRIAL EXPANSION PROJECT, IND. R -56 WHEREAS, the City of South Bend, Department of Redevelopment (herein called the "Local Issuing Agency ") has entered into one or more contracts thereof, together with any supplements thereto or amendments or waivers of any provisions thereof, are herein called the "Contract ") with the United States of America (herein called the "Government ") providing for a loan by the Goverlment to the Local Tssuing Agency for financing the urban renewal, low -rent ousing or redevelopment project(s) described in the Contract and herein ca led the "Project "; and WHE AS, pursuant to advertisement for the receipt of proposals for the purchase of the Second Series 1969 of Project Notes (herein sometimes called "New Project Notes ") of the Local Issuing Agency aggregating $270,000, which appeared in a Notice of Sale published on September 3, 1969, in the South Bend Tribune in the City of South Bend, State of Indiana and in The Daily Boni, Buyer in the City of New York, New York, proposals for the purchase of the New Project Notes in the form approved by the Local Issuing Agency were rece ved, opened, and canvassed at the time and place mentioned in said advertisement, to wit: at Suite 1001, 120 West LaSalle Avenue in the City of South Ben 4, Indiana 46601 at one o'clock P.M. E.D.S.T., on September 16, 1969, which pro osals are as follows: Interest Principal Name of Bidder Rate Amount Premium St. Joseph Bank and Trust 5.95% $270,000.00 $27.00 Company South Bend. Indiana NOW,ITHEREFORE, BE IT RESOLVED by the Local Issuing Agency as follows: Sect on 1. The aforesaid publication of the Notice of Sale and the form and Conte is thereof as so published are hereby, in all respects, approved, ratified and confirmed. Section 2. In order to provide funds to pay expenses incurred or to be incurred In the development of the Project, or to refund, renew or extend its outstanding Notes issued in connection therewith, the Local Issuing Agency hereby determines to borrow the sum of Two Hundred Seventy Thousand Dollars ($270,000) and issue its negotiable Project Notes therefor. Section 3. The Local Issuing Agency hereby ratifies and approves the form of each proposal hereinafter in this Section 3 enumerated for the purchase of the designated principal amount of Notes and determines that each such proposal offers to purchase such Notes at the lowest interest rate and is therefore accepted, and said Notes are hereby awarded to the purchaser, as follows: $270,000.00 Interest Rate Purchaser 5.95% St. Joseph Bank and Trust Company 202 South Michigan South Bend, Indiana